Short Interest in Joby Aviation, Inc. (NYSE:JOBY) Decreases By 8.3%

Joby Aviation, Inc. (NYSE:JOBY) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 66,180,000 shares, a decrease of 8.3% from the December 15th total of 72,190,000 shares. Currently, 15.0% of the company’s shares are short sold. Based on an average trading volume of 18,960,000 shares, the days-to-cover ratio is currently 3.5 days.

Joby Aviation Price Performance

Shares of JOBY stock opened at $8.18 on Monday. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $10.72. The firm has a fifty day moving average price of $7.94 and a 200-day moving average price of $6.33.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. During the same quarter in the previous year, the company earned ($0.13) EPS. Sell-side analysts forecast that Joby Aviation will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group lifted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC raised their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and increased their target price for the company from $5.00 to $6.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Insider Buying and Selling

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $9.84, for a total value of $2,460,000.00. Following the completion of the transaction, the chief executive officer now directly owns 32,325,793 shares of the company’s stock, valued at $318,085,803.12. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 640,849 shares of company stock valued at $5,601,747 over the last quarter. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in shares of Joby Aviation by 67.1% in the second quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock worth $522,000 after purchasing an additional 41,128 shares in the last quarter. Choreo LLC purchased a new stake in Joby Aviation in the 2nd quarter worth $60,000. Amalgamated Bank raised its holdings in Joby Aviation by 46.2% during the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after acquiring an additional 4,391 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Joby Aviation by 142.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,200 shares of the company’s stock worth $129,000 after acquiring an additional 14,805 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Joby Aviation by 27.9% in the second quarter. Hsbc Holdings PLC now owns 160,151 shares of the company’s stock worth $802,000 after acquiring an additional 34,890 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.